Of the 1,263 regulated entities the SEC identified in 2020 to participate in a voluntary diversity self-assessment, only 118, or 9%, responded, the agency said.
The data point came Monday as the Securities and Exchange Commission's Office of Minority and Women Inclusion, or OMWI, published its 2020 Diversity Assessment Report. In January 2020, the OMWI identified regulated entities, like money managers, registered investment advisers, broker-dealers and self-regulatory organizations, to participate in the report process, which includes entities conducting and submitting a voluntary self-assessment of their diversity policies.
Among 118 entities that responded, 98% said they include diversity and inclusion considerations as part of strategic plans for recruiting, hiring, retaining and promoting employees, the report found. Moreover, 70% of the responding entities take proactive steps to promote a diverse pool of candidates when selecting members of their board of directors or other governing body; 88% publish information about their diversity and inclusion efforts on their website; 55% maintain a list of qualified minority-owned and women-owned businesses that may compete for upcoming contracting opportunities; and 62% include the progress they have made toward achieving diversity and inclusion in their workforce, according to the report.